Reuters is reporting that starting January 3rd (today) Target - the No. 2 U.S. discount retailer - is introducing "The Great Save" in its 1,740 stores.
In the space where it typically sells seasonal merchandise, Target will instead set up a "warehouse-club-like experience" to copy the success of clubs like Costco in drawing more store traffic with deals on necessities. For the next 7 weeks, Target's Great Save will feature items like a six-pack of bath towels for $19.99, children's T-shirts for $3, and 35-packs of Market Pantry bottled water for $3.59. Its stores typically carry 24-packs of the Market Pantry water for $3.99.
Warehouse clubs like Costco and Sam's Club charge members an annual fee to benefit from their discounts. But Target says its Great Save will give shoppers warehouse club savings without the warehouse membership fees.
Readers, I guess this is good news if you like to buy in bulk and want to get the "Costco experience" while perusing the aisles at Target. But the bad news is that with this move, Target will abandon their annual temporary events in January like the "Global Bazaar" or "Home Design Event" to entice shoppers with exotic home decor like African wood carvings and Asian accent tables. Target does currently have a "New Year Home Event" online, but it looks doubtful that these offerings will be made available in-store.